NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. grew its position in NVIDIA Co. (NASDAQ:NVDA) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 103,526 shares of the computer hardware maker’s stock after purchasing an additional 753 shares during the quarter. NVIDIA makes up 4.4% of Cornell Pochily Investment Advisors Inc.’s investment portfolio, making the stock its 3rd largest position. Cornell Pochily Investment Advisors Inc.’s holdings in NVIDIA were worth $12,572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its stake in NVIDIA by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 38,290 shares of the computer hardware maker’s stock valued at $34,597,000 after purchasing an additional 13,135 shares during the period. Etfidea LLC purchased a new stake in shares of NVIDIA in the first quarter valued at approximately $493,000. Westchester Capital Management Inc. grew its stake in shares of NVIDIA by 18.9% during the 1st quarter. Westchester Capital Management Inc. now owns 314 shares of the computer hardware maker’s stock worth $284,000 after purchasing an additional 50 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in NVIDIA by 11.6% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,996 shares of the computer hardware maker’s stock worth $1,804,000 after buying an additional 207 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of NVIDIA by 4.0% in the 1st quarter. Larson Financial Group LLC now owns 14,775 shares of the computer hardware maker’s stock worth $13,350,000 after acquiring an additional 570 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVDA shares. Piper Sandler raised their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Melius Research raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. TD Cowen raised shares of NVIDIA to a “strong-buy” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their target price on shares of NVIDIA from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.40.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $119.27, for a total transaction of $119,270,000.00. Following the completion of the sale, the director now owns 5,852,480 shares in the company, valued at $698,025,289.60. The trade was a 14.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,156,270 shares of company stock worth $254,784,327. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $141.98 on Monday. The stock’s 50 day moving average is $130.97 and its two-hundred day moving average is $120.58. NVIDIA Co. has a 52-week low of $45.01 and a 52-week high of $149.77. The company has a market capitalization of $3.48 trillion, a PE ratio of 66.60, a P/E/G ratio of 1.49 and a beta of 1.66. The company has a quick ratio of 3.79, a current ratio of 4.27 and a debt-to-equity ratio of 0.15.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 28th. The computer hardware maker reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.04. NVIDIA had a net margin of 55.04% and a return on equity of 113.50%. The business had revenue of $30.04 billion during the quarter, compared to analyst estimates of $28.74 billion. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The business’s revenue was up 122.4% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 2.67 earnings per share for the current fiscal year.

NVIDIA Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Thursday, September 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.88%.

NVIDIA announced that its Board of Directors has authorized a share repurchase program on Wednesday, August 28th that authorizes the company to buyback $50.00 billion in outstanding shares. This buyback authorization authorizes the computer hardware maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

NVIDIA Company Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.